STOCK MARKET WATCH -- Tuesday, 3 March 2015

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Tuesday, 3 March 2015[font color=black][/font]

SMW for 2 March 2015

AT THE CLOSING BELL ON 2 March 2015
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Dow Jones 18,288.63 +155.93 (0.86%)
S&P 500 2,117.39 +12.89 (0.61%)
Nasdaq 5,008.10 +44.57 (0.90%)


[font color=red]10 Year 2.08% +0.06 (2.97%)
30 Year 2.68% +0.07 (2.68%)[font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
Market Updates
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Demeter]

1. Hear! Hear!

As far as I'm concerned, every day is Women's Day. We all work....and all of us should get paid for it, but we don't.

[Demeter]

2. Isn't the Stock Market DJIA amazing?

Climbing up a rope without any visible means of support....higher and higher and higher...like Wiley Coyote.

And look at the price of oil, still falling. Should get word out to the gasoline retailers, who have been raising the price of gas by a dime every week for 2 months now....

Yes, I am on a tear, thank you! I have been given both barrels by the Condo Board. Unfortunately for them, they missed. But it makes me ornery.

AND...it's still unreasonably, unseasonably cold. We got up to freezing, for an hour or so, but with the wind it was more like 20F, except that wind cuts like a knife, whereas cold still air is quite tolerable, enabling one to build up a zone of body heat...

and I've been walking the grandpuppy these past 5 days in it. His mommy comes home tonight.

[A HERETIC I AM]

3. On what planet has gasoline gone up $.80 since the first week of January?

From here; http://www.gasbuddy.com/gb_retail_price_chart.aspx

http://www.nasdaq.com/markets/crude-oil.aspx


Ahhhh the good ol' SMW thread. Never fear, or....fear all the time......or.....whatever.

FWIW, I looked at this thread to see if any of you market mavens had anything to say about the NASDAQ being above 5000 for the first time since 2000, but alas, typical for this now completely irrelevant daily joke.

[Fuddnik]

4. Well, it jumped nearly 50 cents in 2 weeks in Tampa. So, it's not that much of an exaggeration.

$1.92 3 weeks ago. $2.39 for the last week or so. In fact I saw $2.49 tonight, but that station is always higher.

[Demeter]

5. I was privileged to pay $1.77. It was like the Second Coming!

Now it's $2.49 here, too.

[DemReadingDU]

11. Ohio has $2.49 too

[Hugin]

12. On what planet does a 11%/gallon increase in the price of crude justify a 22%/gallon increase in...

the price of gasoline?

From your own chart and the crude chart in the OP above.

If that's how things work on this planet... That's how I want to be paid!

[A HERETIC I AM]

13. Where are you getting "11%/gallon increase in the price of crude"?

Crude oil isn't priced by the gallon, it is priced by the 43 gallon BARREL.

Gasoline on the commodities exchanges is priced by the gallon for a 42,000 gallon lot/contract.

I am by no means a commodity trader nor am I an expert in the trading or pricing of petroleum products, but as an interested observer with a small amount of experience in the securities industry, I would say the answer to your question has to do with the price of an RBOB contract for future delivery.



It should be obvious to the regulars in this thread that I do not post here as a general rule. I used to. No longer. The last time I put up a post in this thread was, as far as I know, July of 2013. I glance at this thread occasionally to see what response there might be to a major news story. I am rarely disappointed, as I have very low expectations for this thread anymore.

The only reason I looked at this thread and yesterdays edition was to see if any of you had anything to say about the NASDAQ reaching the 5000 point milestone. Since it has become incredibly rare to see more than one or two posts made after the market closes (Something that astounds me for a thread titled "Stock Market Watch&quot and since there were no comments about said milestone on yesterdays thread, I opened this one. I saw the comment I responded to and I ......frankly made a mistake. I should have left well enough alone. It was not something I should have bothered with in the least, and for that, I'm sorry. Sorry that I wasted my time and yours. I am quite sure the poster means well, but it has become clear to me over the years that astute analysis of the days events is not the strong suit of most of the regulars here.

So I'll bow out for another 18 months. I've said my piece and the answer to my question in my title line would be quite frankly, a banality.

Cheers.

[Hugin]

14. I did the conversion to gallons using math.

43 gallons/BARREL

Then I based the average increase on the lows displayed on each chart posted. (Yours from gasbuddy and the crude futures chart in the OP.)

$44 to $49 per bbl from the crude chart above. (The ratio is the same any way it's calculated.)

$2.02 to $2.22 from gasbuddy (Which, while we've been corresponding has gone up to $2.29 BTW.)

It's all percentages. I personally don't like talking percentages, because, it's easy to hide things like price gouging or election fraud in them.

[xchrom]

6. The secretive Cargill family has 14 billionaires thanks to an agricultural empire —

http://www.businessinsider.com/cargill-family-has-14-billionaires-2015-3

Cargill is the largest privately held company in the US.

The Minnesota-based agriculture giant has 75 businesses employing 143,000 people in 67 countries. In 2013, yearly revenue topped $134 billion.

That money has made the Cargill clan very, very rich



Read more: http://www.businessinsider.com/cargill-family-has-14-billionaires-2015-3#ixzz3TK1ZgWXB

[xchrom]

7. Negative interest rates could crush European bank profits —

http://www.businessinsider.com/negative-interest-rates-threaten-european-bank-profits-2015-3

Last month, Sweden’s Riksbank, the country's central bank, took a step into the unknown by lowering its key interest rate into negative territory in an effort to combat falling inflation. However, the experiment is starting to pose serious problems for Sweden's high-street banks.

Roughly half of all European government bonds have some sort of negative interest rate. And as the experiment in Sweden shows, this is going to crush bank profits.



Read more: http://www.businessinsider.com/negative-interest-rates-threaten-european-bank-profits-2015-3#ixzz3TK2Z4viz

[xchrom]

8. The 10 Most Important Things In The World Right Now

http://www.businessinsider.com/the-10-most-important-things-in-the-world-right-now-march-3-2015-3

Good morning! Here's what you need to know for Tuesday.

1. Evacuations are underway as the Villarrica volcano in southern Chile erupts.

2. Israeli Prime Minister Benjamin Netanyahu will addresses US Congress today, seeking to rally opposition over a potential US-Iran nuclear deal.

3. Russia and Ukraine reached an agreement to ensure deliveries of natural gas to Ukraine through March.

4. Former US Secretary of State Hilary Clinton may have broken federal record laws by using a personal email account instead of a government address for work.

5. A funeral for murdered Russian opposition leader Boris Nemtsov, who was gunned down Friday night while walking on a bridge near the Kremlin, will be held today.



Read more: http://www.businessinsider.com/the-10-most-important-things-in-the-world-right-now-march-3-2015-3#ixzz3TK3PfER2

[kickysnana]

15. Is it just me? Isn't it insane that the SOS be using gmail for government business?

We got the NSA monitoring every little thing, terror alerts daily, putting whistle blowers in prison for life and she is using a gmail account because any other is hard to use? None of her Aides could help her out? Really, and she wants me to vote for her to be President?

She needs to retire and be a grandma and I say that with the utmost respect for what she has done.

[DemReadingDU]

16. +++

Wouldn't the NSA be keeping all those emails anyway?

[xchrom]

9. GLOBAL STOCKS LIMP AS FOCUS SHIFTS BACK TO CHINA ECONOMY

http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-03-03-03-50-06


TOKYO (AP) -- Global stock markets were lackluster Tuesday despite a milestone for the Nasdaq as investors looked ahead to the release of China's growth target.

KEEPING SCORE: France's CAC 40 added 0.2 percent to 4,928.49 and Germany's DAX gained 0.2 percent to 11,434.76. Britain's FTSE 100 edged up 0.3 percent to 6,958.07. U.S. shares were set to drift lower. Dow futures inched down 0.05 percent to 18,238. S&P 500 futures were down 0.1 percent at 2,111.50.

CHINA MEETING: China's ceremonial legislature starts its annual session on Thursday and is expected to announce a growth target for 2015. Last year's target was 7.5 percent, which China narrowly missed, posting growth of 7.4 percent that was the slowest in 24 years. There are expectations the target will be lowered to 7 percent this year as China manages a multiyear shift in its economy away from industrial led growth to more emphasis on consumers and services.

[xchrom]

10. Ireland's manufacturing sector buoys eurozone output

http://www.bbc.com/news/business-31690198


Accelerated growth in both new orders and production pushed Ireland's PMI to 57.5 in February. A figure above 50 suggests expansion.

Overall eurozone manufacturing PMI held steady in February at 51.0.

France's manufacturing sector contracted to 47.6, the lowest score in the eurozone.